Altech Chemicals hits near 5-month high on JV agreement

Altech Batteries

14/09/2022 01:59

** Shares of Altech Chemicals Ltd  ATC.AX  jump as much as
18.75% to A$0.095, highest since April 21
    ** Battery minerals co executes a joint venture
shareholders' agreement with German battery institute Fraunhofer
IKTS (https://bit.ly/3BbLAVb)
    ** JV to commercialise a 100 MWh Sodium Alumina Solid State
(SAS) battery project in Germany 
    ** Says proposed battery plant to produce 10,000 SAS battery
modules per annum, which are expected to sell for 7,000 euros 
($6,981.80) to 9,000 euros per module
    ** Says co will be majority owner of JV 
    ** Stock has fallen 33.3% this year, as of last close 

($1 = 1.0026 euros)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))